Separable utility function
One of my friends can't find the answer of this question. Give answer of following economic based question. Tell me about strongly separable utility function?
In an economy 75% of increase in income is spent on the consumption. Investment raised by Rs. 1000 Crore. Compute: (A) Total increase in income(B) Total increase in consumption expenditure
Describe the Law of Diminishing marginal utility? Answer: Law of Diminishing marginal utility: As a consumer goes on consuming more and more units of a commodity th
An acre of Manhattan is worth additional than an acre of prime Iowa farm land due to differences in: (1) perpetuities. (2) time preferences. (3) site values. (4) interest rates. (5) taxes. Can someone explain/help me with best solu
Explain the methodological procedure called comparative statics. What does this procedure imply regarding the nature of the consumer demand curve?
assume the firm is a price taker and faces a market price of €60 per unit. draw the AR and MR curves
A purely competitive firm will turn out where P = MC since this: (w) is good for society. (x) is all which is permitted through law. (y) maximizes profits. (z) permits price adjustment although not quantity adjustment. Q : Define average cost Average cost : It Average cost: It is the cost per unit of output.
Average cost: It is the cost per unit of output.
A predictable reluctance through modern welfare recipients to trade all they own for the material possessions of a rich person by a much earlier period would be evidence which poverty is: (w) easily solved by income redistribution pro
When a monopolist which does not price discriminate maximizes profit and its economic profit is zero, this will charge a price: (w) equal to marginal cost and will be at the minimum average cost. (x) equal to marginal cost, but will p
When all goods are produced in highly competitive markets as well as there are no externalities, goods tend to be manufactured: (i) relatively inefficiently. (ii) along with the most efficient technology at the lowest price. (iii) along with maximum p
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